No Loss From Unmined Coal, India Finance Minister Says

Reuters reported that India’s Finance Minister Palaniappan Chidambaram told journalists at a conference that relating to coal blocks, the country will only perceive a loss if coal is mined and sold at a lower than acceptable price.

As quoted in the market news:

Chidambaram said that out of 57 coal blocks highlighted in a report of the country’s federal auditor on the allocation process, only one was producing.

Chidambaram told reporters:

If coal is not mined, if coal remains buried in mother earth, where is the loss?

Click here to view the full report. 

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